Instagram to add NFT support on Ethereum, Polygon, Solana and Flow
Meta will launch a pilot project to integrate non-fungible tokens (NFTs) into Instagram next week.
Meta plans to add NFT support on Instagram for those issued on Ethereum, Polygon, Solana and Flow. It remains unclear whether the platform will support all of these networks at the initial stage.
In the pilot, a limited group of users in the United States will participate.
It is expected that NFTs on Instagram will gain integration with popular digital wallets such as MetaMask. It is expected that the platform will not charge users a fee for listing and exchanging tokens.
Meta Platforms CEO confirmed, that NFT holders will be able to use the token as a profile photo, by analogy with Twitter and other platforms.
The feature is expected to appear this week, Zuckerberg did not name the exact date.
Creators will also be allowed to use NFTs with augmented reality in Stories via SparkAR — a toolkit for creating their own filters. According to Zuckerberg, the move will enable placing digital art in physical spaces.
On May 9, Meta opened a showroom, where visitors can experience devices developed by the company.
In January 2022, the Financial Times reported that the corporation plans to integrate NFTs into Facebook and Instagram, and is also working on a prototype of a platform to issue these digital assets.
Earlier in March, Meta CEO Mark Zuckerberg said that the NFT could appear on Instagram in the coming months.
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